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Mukuru Reduces
Absenteeism & Cuts
Loan Requests Using
Jem On-Demand Pay

CLIENT
Mukuru
INDUSTRY
Financial Services
EMPLOYEES
541
PRODUCTS
Earned Wage Access
96%

Reducing in loan processing time
100%

Reduction in loan
requests

Project Overview: Mukuru

Mukuru is a financial services company that helps millions of people across Africa send and receive money. Their HR department wanted to find a way to provide their + 540 staff with safe and affordable salary advances instead of administering company loans, or letting them turn to predatory lenders.

Challenges

  • Before Mukuru started using Jem On-Demand Pay, processing employee loans was an “admin nightmare.”
  • Senior Payroll Partner Leana Pretorius would have to administer the entire process from approving applications and arranging payment through their Treasury team, to adding the loans to payroll and coordinating the loan repayments with each employee.
  • At one stage, Leana was managing 80 loans for Mukuru employees simultaneously, and would spend ±7 hours a month administering these loans

Results

96%

Reducing in loan processing time
100%

Reduction in loan
requests
  • Since implementing Earned Wage Access, Mukuru has received 0 loan requests.
  • Mukuru’s HR time spent on the employee loan process decreased by 96% per month (from 7 hours to 15 minutes). 30% of Mukuru employees use their salary advance for transport to get to and from work. As a result, Mukuru has noticed a decrease in employee absenteeism
  • Employee terminations and suspensions were a concern for the Mukuru team when they first heard of Jem. Now, whenever there is an employee termination or suspension at Mukuru, the employee is removed from the Jem dashboard within 30 minutes, removing their ability to take a salary advance and any future issues that come with this.

EARNED WAGE ACCESS

EWA 3

 

Before we joined Jem, we used to process 80 staff loans a month and it was an admin nightmare. Now, we just send our employees to Jem when they are in financial stress. It has been such a pleasure and our employees absolutely love it.

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LEANA PRETORIOUS (SENIOR PAYROLL PARTNER)

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